Bloomberg Calls for Carbon Tax

New York Mayor Michael Bloomberg told a group of chief executives that he’s in favor of a carbon tax — a view not shared by many political leaders of either party in Washington.

Mr. Bloomberg, speaking to the Wall Street Journal CEO Council, said the U.S. needs to reduce its dependence on foreign oil if “you want to stop sending your money to … terrorists.”

The answer, he said: “We need a carbon tax.”

Mr. Bloomberg, an independent, criticized the now-moribund Democratic proposal to develop a nationwide “cap and trade” system for limiting U.S. carbon dioxide emissions by requiring companies to buy tradeable permits for the right to emit greenhouse gases under a steadily declining economy wide cap.

“Cap and trade is filled with so many special interests,” he said.

Mr. Bloomberg downplayed speculation that he may consider a run for President, saying he had a great job already. He more forcefully dismissed the idea of an independent candidacy.